VANCOUVER, British Columbia, July 21, 2025 (GLOBE NEWSWIRE) -- Skeena Resources Limited (TSX: SKE, NYSE: SKE) (“Skeena Gold & Silver”, “Skeena” or the “Company”) reports that it has filed an early warning report under National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection to its shareholdings in TDG Gold Corp. (TSXV: TDG) (“TDG”). On July 14, 2025, Skeena acquired 6,666,667 Shares of TDG for an aggregate purchase price of C$4,000,000, or C$ ...

Core Points - Skeena Resources Limited held its Annual General Meeting of Shareholders on June 23, 2025, in Vancouver, where shareholders approved the re-election of all existing Directors and the election of Mr. Hansjoerg Plaggemars to the Board [1] - A total of 82,703,300 shares were voted, representing 72.2% of the common shares issued and outstanding [2] - The voting results showed high approval rates for the re-elected Directors, with Walter Coles receiving 99.48% and Randy Reichert 99.97% of votes in favor [3] Voting Results - Walter Coles received 70,962,376 votes, equating to 99.48% approval [3] - Randy Reichert received 71,307,252 votes, equating to 99.97% approval [3] - Craig Parry received 62,720,699 votes, equating to 87.93% approval [3] - Suki Gill received 68,105,501 votes, equating to 95.48% approval [3] - Greg Beard received 66,624,648 votes, equating to 93.40% approval [3] - Nathalie Sajous received 70,813,332 votes, equating to 99.28% approval [3] - Hansjoerg Plaggemars received 43,963,895 votes, equating to 61.63% approval [3] Company Overview - Skeena is focused on advancing the Eskay Creek Gold-Silver Project, which is expected to be one of the highest-grade and lowest-cost open-pit precious metals mines globally [5] - The company emphasizes sustainable mining practices and aims to maximize its mineral resources while fostering positive relationships with Indigenous communities [5]

Group 1 - Skeena Resources Limited (SKE) has shown strong year-to-date performance, with a return of approximately 30.4%, significantly outperforming the Basic Materials sector average of 0.2% [4] - The Zacks Rank for Skeena Resources Limited is currently 2 (Buy), indicating positive analyst sentiment and an improving earnings outlook [3][4] - Over the past three months, the Zacks Consensus Estimate for SKE's full-year earnings has increased by 58.1%, reflecting stronger analyst sentiment [4] Group 2 - Skeena Resources Limited is part of the Mining - Miscellaneous industry, which consists of 58 companies and currently ranks 155 in the Zacks Industry Rank [6] - The Mining - Miscellaneous industry has experienced a decline of about 3.2% year-to-date, indicating that SKE is performing better than its peers in this group [6] - Another stock in the Basic Materials sector, Symrise AG Unsponsored ADR (SYIEY), has also outperformed the sector with a year-to-date increase of 2% [5][7]

Core Viewpoint - Skeena Resources Limited (SKE) shares have increased by 5.7% recently, closing at $10.09, with a potential upside of 28.8% based on Wall Street analysts' mean price target of $13 [1] Price Targets and Estimates - The average price target consists of seven estimates ranging from a low of $10.06 to a high of $14.63, with a standard deviation of $1.73, indicating variability among analysts [2] - The lowest estimate suggests a minor decline of 0.3%, while the highest indicates a potential upside of 45% [2] - Analysts' price targets should be approached with caution, as their reliability has been questioned [3][7] Earnings Estimates and Analyst Agreement - Analysts are optimistic about SKE's earnings, with a consensus indicating better-than-previously estimated earnings, which historically correlates with stock price increases [4][11] - Over the past 30 days, the Zacks Consensus Estimate for the current year has risen by 1.8%, with one estimate increasing and no negative revisions [12] Zacks Rank and Investment Potential - SKE holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate factors, suggesting strong potential for upside [13]

Financial Results - Skeena reported its fourth quarter and annual financial results for the year ended December 31, 2024[2]. - The financial statements and management's discussion and analysis are available on Skeena's website and regulatory filings[2]. Project Highlights - The Eskay Creek Gold-Silver Project is expected to be one of the highest-grade and lowest-cost open-pit precious metals mines globally[3]. - The company anticipates future exploration and development activities, with a focus on estimating mineral resources and reserves[6]. Sustainability and Community Engagement - Skeena is committed to sustainable mining practices and fostering positive relationships with Indigenous communities[3]. - The company aims to maximize the potential of its mineral resources while delivering long-term value to stakeholders[3]. Risk Management and Future Outlook - Forward-looking statements include expectations regarding future metal prices and operational performance[6]. - The company emphasizes the importance of regulatory approvals and environmental risk management in its operations[6]. - Skeena's management acknowledges potential risks that may affect future performance, including changes in economic conditions and project execution delays[6]. - Skeena's future strategies will be guided by the results of ongoing exploration and market conditions[6].

Core Viewpoint - Skeena Resources Limited has entered into an agreement for a bought deal offering of 4,800,000 common shares at C$14.70 per share, aiming to raise approximately C$70.5 million for the advancement of its Eskay Creek gold-silver project and general corporate purposes [1][2]. Group 1: Offering Details - The underwriters, led by BMO Capital Markets, have the option to increase the offering by 15% up to 48 hours before closing [1]. - If the underwriters elect to issue up to 2,230,000 shares as flow-through shares at C$17.93 each, the total gross proceeds could rise to approximately C$78 million [3]. - The offering is expected to close around February 26, 2025, subject to regulatory approvals [6]. Group 2: Use of Proceeds - Proceeds from the common shares will be allocated to the Eskay Creek project and general corporate purposes [2][5]. - Funds from flow-through shares will be used for eligible Canadian development expenses, with an effective date for renouncement no later than December 31, 2025 [4]. Group 3: Company Overview - Skeena Resources is focused on advancing the Eskay Creek Gold-Silver Project, which is expected to be one of the highest-grade and lowest-cost open-pit precious metals mines globally [9][10]. - The company emphasizes sustainable mining practices and aims to build positive relationships with Indigenous communities [10].

Core Insights - Skeena Gold & Silver has discovered a significant gold-copper porphyry system at the KSP property, showcasing consistent mineralization of 0.71 grams per tonne (gpt) gold over a length of 381.5 meters [1] Group 1 - The discovery indicates a large-scale mineralization potential at the KSP property, which could enhance the company's resource base and future production capabilities [1] - The consistent mineralization results suggest a promising exploration outlook for Skeena Gold & Silver, potentially leading to increased investor interest and valuation [1] - The presence of both gold and copper in the porphyry system may diversify the company's asset portfolio and mitigate risks associated with commodity price fluctuations [1]

Financial Performance - The company reported a loss of CAD 84,887,000 for the three months ended September 30, 2024, compared to a loss of CAD 39,795,000 for the same period in 2023, indicating a decline of 113.5%[6] - For the three months ended September 30, 2024, the company reported a loss of $84,887 thousand, compared to a loss of $39,795 thousand for the same period in 2023, representing a 113% increase in losses[11] - For the nine months ended September 30, 2024, the loss was $147,290 thousand, up from $76,024 thousand in 2023, indicating a 94% increase in losses year-over-year[11] - The loss per share for the three months ended September 30, 2024, was CAD (0.80), compared to CAD (0.45) for the same period in 2023, indicating a worsening of 77.8%[5] Assets and Liabilities - Total assets increased to CAD 227,060,000 as of September 30, 2024, up from CAD 194,987,000 at December 31, 2023, representing a growth of approximately 16.4%[3] - Total liabilities increased to CAD 136,658,000 as of September 30, 2024, from CAD 70,452,000 at December 31, 2023, representing an increase of approximately 94.0%[3] - Shareholders' equity decreased to CAD 90,402,000 as of September 30, 2024, down from CAD 124,535,000 at December 31, 2023, reflecting a reduction of approximately 27.4%[3] - The total shareholders' equity as of September 30, 2024, included capital stock of CAD 667,765,000, reflecting a significant increase from CAD 552,397,000 at December 31, 2023[3] Cash Flow and Liquidity - The company’s cash and cash equivalents stood at CAD 84,860,000 as of September 30, 2024, compared to CAD 91,135,000 at December 31, 2023, a decrease of approximately 6.9%[3] - Cash and cash equivalents at the end of the period were $84,860 thousand, compared to $38,004 thousand at the end of the previous period, indicating a significant increase in liquidity[11] - The company reported net cash used in investing activities of $4,880 thousand for the three months ended September 30, 2024, down from $14,075 thousand in the same period of 2023, showing a 65% decrease[11] - Net cash used in operating activities for the three months ended September 30, 2024, was $40,963 thousand, compared to $21,024 thousand for the same period in 2023, reflecting a 95% increase[11] Project Financing and Commitments - The company anticipates that proceeds from the Project Financing Package will be sufficient to fund capital requirements up to the commencement of commercial production at the Eskay Project, expected in 2027[14] - The company has entered into binding commitments with Orion Resource Partners for a Project Financing Package, which includes private placements, a Gold Stream, and a Senior Secured Term Loan facility[13] - The total undiscounted financial liabilities and commitments as of September 30, 2024, amount to $163,860,000[47] - The Company is required to spend $27,572,000 in Canadian Development Expenses (CDE) by December 31, 2024, due to the issuance of flow-through common shares[47] Exploration and Evaluation - The total exploration and evaluation expenses for the nine months ended September 30, 2024, were $99,288,000, compared to $63,899,000 for the same period in 2023, representing a year-over-year increase of approximately 55.5%[61] - The company has made significant investments in environmental studies and consultation, totaling $27,763,000 for the nine months ended September 30, 2024[59] - The company incurred $13,517,000 in costs related to earthworks and infrastructure at Eskay, an increase from $8,626,000 in the same period of 2023[53] - The increase in the estimate for closure and reclamation costs was $11,468,000 for the nine months ended September 30, 2024, indicating significant disturbance at Eskay[52] Stock Options and Share-Based Payments - The company granted 90,000 stock options and 10,000 RSUs on May 10, 2024, with an exercise price of $6.75 per share[88] - Share-based payments expense for the nine months ended September 30, 2024, totaled $9,719,000, compared to $8,640,000 for the same period in 2023[99] - The weighted average fair value per stock option granted during the nine months ended September 30, 2024, was $2.96, down from $4.14 in 2023[99] - The company granted 1,928,000 stock options and 147,000 PSUs on August 12, 2024, subject to performance criteria that have not yet been achieved[95] Management and Governance - Key management personnel remuneration for the three months ended September 30, 2024, was $928,000, compared to $844,000 for the same period in 2023, representing an increase of 9.94%[101] - For the nine months ended September 30, 2024, key management personnel remuneration totaled $2,680,000, up from $2,541,000 in 2023, reflecting a growth of 5.48%[101] - Accounts payable and accrued liabilities included $1,143,000 due to key management personnel as of September 30, 2024, compared to $1,004,000 at the end of 2023, an increase of 13.83%[105] Legal and Regulatory - The British Columbia Court of Appeal overturned a previous decision regarding mineral rights, which may impact future operations but is not expected to affect the carrying value of the Eskay project[107]

Group 1 - The gold price has reached record highs, positively impacting gold and silver exploration stocks [1] - A notable gold exploration company operates in the Golden Triangle of northwest British Columbia, adjacent to Newmont Mining's significant assets [1] - The historical mine produced 3.3 million ounces of gold at a grade of 45 g/t and 160 million ounces of silver, with a revenue split of approximately 60% gold and 40% silver [1] Group 2 - As of November 2023, the project has proven and probable reserves of 3.3 million ounces of gold and 88 million ounces of silver, with an after-tax NPV of C$3.1 billion and an IRR of 57% [2] - The capital expenditures for mine construction are estimated at over C$700 million, with a secured financing package of C$1 billion from Orion Resource Partners [2] - Production is expected to start in the first half of 2027, with an annual output of around 450,000 gold equivalent ounces for the first five years [2] Group 3 - The company acquired the Snip project in 2017, which has a historical production of 1.1 million ounces at a grade of 27.5 g/t Au, and a 2023 resource estimate shows an increase of 579,000 ounces [3] - The current share price of Skeena Resources is $7.50, with an enterprise value of approximately $700 million, and the valuation is expected to rise towards the project's NPV of C$3.1 billion [3] - The gold price is anticipated to double by 2027, potentially increasing Skeena's share price significantly, with a target of 5x the current level [3]

Group 1 - Michael McCrae is leading Kitco's coverage of the mining sector, bringing extensive experience from both media and banking [1] - McCrae has an MBA and CMA, indicating a strong educational background relevant to financial analysis [1] - He was a cofounder and publisher of MINING.com, showcasing his capability in building digital media properties [1] Group 2 - The article emphasizes the importance of accurate information in the mining sector, although it notes that accuracy cannot be guaranteed [2] - It clarifies that the views expressed are those of the author and may not reflect the views of Kitco Metals Inc [2] - The article is intended for informational purposes only and does not serve as a solicitation for financial transactions [2]